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PepsiCo on Tuesday said it witnessed double-digit organic revenue growth in India in the first quarter and added that its developing and emerging markets “remained resilient”. On Tuesday, the snacks and beverage major reported its earnings for the first quarter ended March 19, 2022.
The company’s top management in its prepared remarks on the earnings stated, “Our developing and emerging markets remained resilient and delivered 18 percent organic revenue growth in the quarter, including double-digit organic revenue growth in Mexico, Brazil, Egypt, India, and Turkey, and mid-single-digit growth in South Africa and China.”
Overall the company’s international business delivered 15 per cent organic revenue growth and the it added that “each of its international divisions reported strong organic revenue growth.”
Beverages
Talking about the performance of the Africa, Middle East and South Asia region (AMESA), the company stated that its India business witnessed high single-digit growth in terms of beverage volumes. “Beverage unit volume grew 7 per cent (in AMESA) primarily reflecting double-digit growth in Pakistan and high-single-digit growth in the Middle East and India, partially offset by a high-single-digit decline in Nigeria,” PepsiCo added.
Snacks
It added that in convenient foods (snacks) unit volumes grew by 10 per cent in AMESA region. This it said primarily reflected “double-digit growth in the Middle East and Pakistan. Additionally, South Africa experienced mid-single-digit growth and India experienced high single-digit growth.”
Amidst inflationary pressures, the snacks and beverages major said that it has enhanced its focus on” productivity” and “sharpening its revenue management capabilities”, while continuing to make the necessary long-term investments to fortify its business.
“As we look ahead, we believe that we are well-positioned to adapt and execute in a challenging operating environment as we hold strong positions in growing, global categories. Our large, trusted brands also deliver variety, convenience, and a great value proposition to consumers,” PepsiCo’s top management stated.
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